HCA Healthcare Inc Q3 2020 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Gary Paul Taylor - JPMorgan Chase & Co, Research Division - Analyst : Two-part question as well. One, Bill, wondered if you could tell us, 2019, what emergency room was as a percent of either total revenue or total outpatient revenue, just so we can sort of think about the headwind that you've baked in there. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. OCTOBER 26, 2020 / 2:00PM, HCA.N - Q3 2020 HCA Healthcare Inc Earnings Call And then the other part is, I guess, clearly, we've seen that the worst financial result for HCA comes from when the facilities are empty because you've deferred surgical business and there wasn't COVID. Now you're managing much better. Sort of simultaneously, the COVID ebbs and flows with your surgical business. So the question is, as investors look forward, as COVID cases increases, do we think that's a positive or negative for EBITDA? Or do we think that still just allows you to manage your overall EBITDA trajectory in a fairly tight range?

Question: Andrew Mok - Barclays Bank PLC, Research Division - Analyst : This is Andrew Mok on for Steve. Just wanted to follow up on the slow ER volume recovery and expectations for a similar decline in 2021. Do you suspect that some of the ER volumes, especially on the lower acuity visits, have left the hospital system permanently? How does that scenario impact your strategy and resource allocation from here?